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Cable Update (GBPUSD)

  • #329,041
  • Nov 4, 2012 7:26am Nov 4, 2012 7:26am
Quoting bbakker
20% is simply too high and shows you are over exposing yourself. 5% should be your normal drawdown at any given time maybe even 10% at a push. My target is 2-5%. I exceeded this limit twice in the last 12 months and I've learned from it as to why I did this and have rules now to prevent it from happening again!
Dude, seriously, 20% now doesnt even eat up my profits in the account sooo im fine
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,042
  • Nov 4, 2012 7:37am Nov 4, 2012 7:37am
Gold ,bullish ?


Quoting serdarsil
I think that the pullback in quotation down to 1.6008 has been the last chance for going long before a rally towards 1.70, which will occur in 6 months time .. Take a look at gold price... You will see that the money started flowing towards risky assets .. GBPUSD will also benefit from that ...

Besides, UK economy started giving positive signals already .. Where US will keep on printing money, UK will not make further monetary base increase, which will support GBPUSD go up ...

Towards the closing of the market on Friday, quotation did move...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,043
  • Nov 4, 2012 8:28am Nov 4, 2012 8:28am
Quoting fxtyrant
Dude, seriously, 20% now doesnt even eat up my profits in the account sooo im fine
That is not the point. 20% of your whole account was at risk on a single day, profit or not, this is not a healthy statistic. With that kind of stat, investment banks would say you're too big a risk taker!
  • #329,044
  • Nov 4, 2012 9:02am Nov 4, 2012 9:02am
is that any potential to go up and 1.6137?????anyone????
  • #329,045
  • Nov 4, 2012 9:23am Nov 4, 2012 9:23am
Quoting new_member
is that any potential to go up and 1.6137?????anyone????
New member, theres potential for price to do anything it wants whenever it wants.

Theres no guarantees in this business, just probabilities.

In forex prices trend pretty well, so your best bet is to go with momentum.


Right now the momentum is down. However thats not to say price couldnt totally reverse and go back to 1.6137.
  • #329,046
  • Nov 4, 2012 9:36am Nov 4, 2012 9:36am
Quoting alex1976
New member, theres potential for price to do anything it wants whenever it wants.

Theres no guarantees in this business, just probabilities.

In forex prices trend pretty well, so your best bet is to go with momentum.


Right now the momentum is down. However thats not to say price couldnt totally reverse and go back to 1.6137.

thanks alex1976.....good info....
  • #329,047
  • Nov 4, 2012 9:38am Nov 4, 2012 9:38am
lol actual answer is

= no

Quoting new_member
thanks alex1976.....good info....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,048
  • Nov 4, 2012 9:45am Nov 4, 2012 9:45am
Quoting serdarsil
I think that the pullback in quotation down to 1.6008 has been the last chance for going long before a rally towards 1.70, which will occur in 6 months time .. Take a look at gold price... You will see that the money started flowing towards risky assets .. GBPUSD will also benefit from that ...

Besides, UK economy started giving positive signals already .. Where US will keep on printing money, UK will not make further monetary base increase, which will support GBPUSD go up ...

Towards the closing of the market on Friday, quotation did move very...
Let the price first break 1.6250, then 1.6300 then 1.6570 (July, 2010 High), If BoE doesn't reduce its current QE in the next meeting, very very hard to reach 1.70 as we are approaching to the year end when demand for Dollars would be huge by multinational corporations...
  • #329,049
  • Nov 4, 2012 9:49am Nov 4, 2012 9:49am
guys come on you crack me up
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,050
  • Nov 4, 2012 10:03am Nov 4, 2012 10:03am
Quoting Bones
lol actual answer is

= no

Bones, there are no yes or no answers in forex, with regards to price direction.

There is a higher probability price will go down from here based on the daily and weekly close, and I will be looking myself to enter a short postion come 5.15pm.

That probability is is about 60% its going to go down after a small retrace.
  • #329,051
  • Nov 4, 2012 10:05am Nov 4, 2012 10:05am
im just playing Alex
probability of going to 1.6570 this year

=zero
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,052
  • Nov 4, 2012 10:11am Nov 4, 2012 10:11am
Quoting Bones
im just playing Alex
probability of going to 1.6570 this year

=zero

  • #329,053
  • Nov 4, 2012 10:17am Nov 4, 2012 10:17am
I wonder if were going to see 5912 this week?
  • #329,054
  • Nov 4, 2012 10:20am Nov 4, 2012 10:20am
Its not
its already a High Reliability pattern

on a High TF

Quoting Bones
Gold ,bullish ?
Attached Image (click to enlarge)
Click to Enlarge Name: gold monthly 4-11-12.png Size: 27 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #329,055
  • Nov 4, 2012 11:12am Nov 4, 2012 11:12am
Quoting Bones
Gold ,bullish ?

I think that gold started a big move towards south ...
  • #329,056
  • Nov 4, 2012 11:13am Nov 4, 2012 11:13am
Quoting fins93
Let the price first break 1.6250, then 1.6300 then 1.6570 (July, 2010 High), If BoE doesn't reduce its current QE in the next meeting, very very hard to reach 1.70 as we are approaching to the year end when demand for Dollars would be huge by multinational corporations...

Ok I let it break 1.6250 )))
  • #329,057
  • Nov 4, 2012 4:48pm Nov 4, 2012 4:48pm
Scalping is not for everyone. pesonally i love it...i cant be bothered to wait on pips when there are pips to be made on flags whether on trend or not. ATM we are not inmho in any trend on any currency or commodity or indicies. ..on any tf. So...heres what i do. i watch the inverse correlations and when i see momentum ( volume...liquidity... entering into a candle after a s/r level..s/d level ) i wait for the price to arrive at the level that i have drawn in. Now , waiting on a 4hr. candle is way beyond my handle...although i have the highest respect for a couple of traders here who do. ...so i look for pips on M15, M5, M1.

I am saving what i have written above as a disclaimer...and offering the charts below as an example of how i watch price. supply will always at some stage turn into demand as support will always at some stage turn into resistance. Keep your eyes on it folks.!

Cable M15, Gold M15. Aud M15
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 16 KB
Click to Enlarge Name: gold.gif Size: 14 KB
Click to Enlarge Name: aud.gif Size: 18 KB
All systems of divination, like music itself,work through patterns.
  • #329,058
  • Nov 4, 2012 6:11pm Nov 4, 2012 6:11pm
Quoting kaspopsicle
Scalping is not for everyone. pesonally i love it...i cant be bothered to wait on pips when there are pips to be made on flags whether on trend or not. ATM we are not inmho in any trend on any currency or commodity or indicies. ..on any tf. So...heres what i do. i watch the inverse correlations and when i see momentum ( volume...liquidity... entering into a candle after a s/r level..s/d level ) i wait for the price to arrive at the level that i have drawn in. Now , waiting on a 4hr. candle is way beyond my handle...although i have the highest respect...
AUD...taken some of the table on M15 .Aud was best scalp...now at resistance, still holding cos i made pips to hold for a few more.
Cable ..i still believe she will go north a few more. On scalping 5 pips is a few more!
Gold is predicted to be a big drop so i am watching this closely, although the way i see it the instrument is on direction north.
edit: out cable wanna save my pips
All systems of divination, like music itself,work through patterns.
  • #329,059
  • Nov 4, 2012 7:04pm Nov 4, 2012 7:04pm
Quoting kaspopsicle
AUD...taken some of the table on M15 .Aud was best scalp...now at resistance, still holding cos i made pips to hold for a few more.
Cable ..i still believe she will go north a few more. On scalping 5 pips is a few more!
Gold is predicted to be a big drop so i am watching this closely, although the way i see it the instrument is on direction north.
edit: out cable wanna save my pips
out all cos i need some sleep . Good luck all. Just wanted to show you how to make a few pips. These trades i posted improved my account by around 150 pips. You have to know when to bail and when to get back in according to your sleep pattern !
All systems of divination, like music itself,work through patterns.
  • #329,060
  • Nov 4, 2012 11:03pm Nov 4, 2012 11:03pm
Quoting Bones
Its not
its already a High Reliability pattern

on a High TF

i think gold will hold this recent low towards 1720ish min target

yes we can expect 3/5/7$ stop hunt any time but 50/50 chance
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